Business
Wescan arranges $500,000 flow-through placement
Wescan arranges $500,000 flow-through placement.
About this update from Wescan Goldfields Inc.
[{"type":"text","content":"\n\n\n\n\nStock Symbol: WGF: TSX-VEN\n\nSASKATOON, Dec. 13 /CNW/ - George Sanders, President of Wescan Goldfields\nInc. (\"Wescan\"), reports that Wescan has arranged a non-brokered private\nplacement of flow-through shares with 49 North Resource Flow-Through Limited\nPartnership for the issuance of 694,444 flow-through shares at a price of\n$0.72 per flow-through share for gross proceeds of $500,000.\nThe securities offered hereby will be subject to a four-month hold period\nfrom the closing date in accordance with applicable securities laws.\n49 North Resource Flow-Through Limited Partnership has been formed to\ninvest in a diversified portfolio of flow-through shares of mining and oil and\ngas companies with exploration programs in Saskatchewan.\nProceeds will be applied to geophysical surveys of the Company's 50%\nowned uranium prospecting permits in the Athabasca Basin and to further\ndrilling on Wescan's 100% owned Fork Lake property.\nWescan will pay a cash fee of 4% of the gross proceeds raised by a finder\nrelated to this private placement. The placement is subject to final approval\nof the TSX Venture Exchange.\n\nWescan is a Canadian based corporation engaged in the acquisition,\nexploration and development of mineral properties. Shares of the Company trade\non the TSX Venture exchange under the trading symbol \"WGF\".\n\n \"The TSX Venture Exchange has not reviewed and does not accept\n responsibility for the adequacy or accuracy of this release.\"\n\n\n\n","length":1534,"tagName":"div"}]